--- schema_version: "secwatch.filing_event.v1" accession: "0001104659-23-106801" form_type: "8-K" ticker: null cik: "0001836274" company_name: "Atlantic Coastal Acquisition Corp." filed_at: "2023-10-04T23:59:59+00:00" generated_at: "2026-06-10T04:57:47.816176+00:00" event_type: "other_material" sentiment: "neutral" materiality_score: 0.85 calibrated_materiality_score: 0.85 confidence: "high" source: SEC EDGAR --- # Atlantic Coastal Acquisition Corp. undergoes change of control; new CEO and board appointed ## Summary - Sponsor sells 55% membership to Porche Capital for $1.00, assumes ~$420k in accrued expenses. - Shahraab Ahmad resigns as CEO and Chairman; Anthony Porcheron becomes CEO and managing member of Sponsor. - Entire officer team replaced: Khash-Erdene Gantumur is new CFO, Tsogtgerel Bayanjargal is EVP. - Board to be replaced: new directors include Chandra Panchal, Tseren Purev, Bartholomew Pan-Kita. - Existing officers resigned Sep 29; board resignations expected within 10 days of closing. ## SEC filing metadata - accession: 0001104659-23-106801 - form_type: 8-K - cik: 0001836274 - company_name: Atlantic Coastal Acquisition Corp. - filed_at: 2023-10-04T23:59:59+00:00 - event_type: other_material - sentiment: neutral - materiality_score: 0.85 - calibrated_materiality_score: 0.85 - confidence: high - sec_items: 1.01, 5.02, 5.01, 9.01, 6.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1836274/000110465923106801/0001104659-23-106801-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1836274/000110465923106801/tm2327588d1_8k.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001104659-23-106801 - JSON: https://secwatch.observer/filing/0001104659-23-106801.json - Plain text: https://secwatch.observer/filing/0001104659-23-106801.txt ## Key facts - Executive change Ned Sizer resigned as Chief Operating Officer at Atlantic Coastal Acquisition Corp.. - Action: resigned - Role: Chief Operating Officer source text: Shahraab Ahmad (Chairman of the Board of Directors) and Chief Executive Officer), Burt Jordan (President), Anthony Eisenberg (Chief Strategy Officer), Jason Chryssicas (Chief Financial Officer) and Ned Sizer (Chief Operating Officer) have resigned from their respective positions as officers of the Company evidence_url: https://www.sec.gov/Archives/edgar/data/1836274/000110465923106801/0001104659-23-106801-index.htm - Executive change Khash-Erdene Gantumur was appointed as Chief Financial Officer at Atlantic Coastal Acquisition Corp.. - Action: appointed - Role: Chief Financial Officer source text: Khash—Erdene Gantumur, Chief Financial Officer evidence_url: https://www.sec.gov/Archives/edgar/data/1836274/000110465923106801/0001104659-23-106801-index.htm - Executive change Burt Jordan resigned as President at Atlantic Coastal Acquisition Corp.. - Action: resigned - Role: President source text: Shahraab Ahmad (Chairman of the Board of Directors) and Chief Executive Officer), Burt Jordan (President), Anthony Eisenberg (Chief Strategy Officer), Jason Chryssicas (Chief Financial Officer) and Ned Sizer (Chief Operating Officer) have resigned from their respective positions as officers of the Company evidence_url: https://www.sec.gov/Archives/edgar/data/1836274/000110465923106801/0001104659-23-106801-index.htm - Executive change Shahraab Ahmad resigned as Chairman of the Board of Directors and Chief Executive Officer at Atlantic Coastal Acquisition Corp.. - Action: resigned - Role: Chairman of the Board of Directors and Chief Executive Officer source text: Shahraab Ahmad (Chairman of the Board of Directors) and Chief Executive Officer), Burt Jordan (President), Anthony Eisenberg (Chief Strategy Officer), Jason Chryssicas (Chief Financial Officer) and Ned Sizer (Chief Operating Officer) have resigned from their respective positions as officers of the Company evidence_url: https://www.sec.gov/Archives/edgar/data/1836274/000110465923106801/0001104659-23-106801-index.htm - Executive change Anthony Porcheron was appointed as Chief Executive Officer at Atlantic Coastal Acquisition Corp.. - Action: appointed - Role: Chief Executive Officer source text: the following individuals will become officers of the Company: 2 Anthony (Tony) Porcheron, Chief Executive Officer evidence_url: https://www.sec.gov/Archives/edgar/data/1836274/000110465923106801/0001104659-23-106801-index.htm - Executive change Jason Chryssicas resigned as Chief Financial Officer at Atlantic Coastal Acquisition Corp.. - Action: resigned - Role: Chief Financial Officer source text: Shahraab Ahmad (Chairman of the Board of Directors) and Chief Executive Officer), Burt Jordan (President), Anthony Eisenberg (Chief Strategy Officer), Jason Chryssicas (Chief Financial Officer) and Ned Sizer (Chief Operating Officer) have resigned from their respective positions as officers of the Company evidence_url: https://www.sec.gov/Archives/edgar/data/1836274/000110465923106801/0001104659-23-106801-index.htm - Executive change Tsogtgerel Bayanjargal was appointed as Executive Vice President at Atlantic Coastal Acquisition Corp.. - Action: appointed - Role: Executive Vice President source text: Tsogtgerel Bayanjargal, Executive Vice President evidence_url: https://www.sec.gov/Archives/edgar/data/1836274/000110465923106801/0001104659-23-106801-index.htm - Executive change Anthony Eisenberg resigned as Chief Strategy Officer at Atlantic Coastal Acquisition Corp.. - Action: resigned - Role: Chief Strategy Officer source text: Shahraab Ahmad (Chairman of the Board of Directors) and Chief Executive Officer), Burt Jordan (President), Anthony Eisenberg (Chief Strategy Officer), Jason Chryssicas (Chief Financial Officer) and Ned Sizer (Chief Operating Officer) have resigned from their respective positions as officers of the Company evidence_url: https://www.sec.gov/Archives/edgar/data/1836274/000110465923106801/0001104659-23-106801-index.htm - M&A Transactions Atlantic Coastal Acquisition Corp. completed an acquisition involving Porche Capital LTD for total purchase price of $1.00 (closed 2023-10-02). - Action: acquisition - Counterparty: Porche Capital LTD - Consideration: total purchase price of $1.00 - Closing: 2023-10-02 source text: of 1934 Date of Report (Date of earliest event reported): September 29, 2023 ATLANTIC COASTAL ACQUISITION CORP. (Exact name of registrant as specified in its charter) Delaware 001-40158 85-4178663 (State or other jurisdiction of incorporation or organization) (Commission File Number) (I.R.S. Employer Identification Number) 1 Woodbury Mews , Dun Laoghaire evidence_url: https://www.sec.gov/Archives/edgar/data/1836274/000110465923106801/0001104659-23-106801-index.htm - Material Agreements Atlantic Coastal Acquisition Corp. entered into Sponsor Membership Interest Purchase Agreement with Porche Capital LTD valued at purchase price of $1.00 for 55% membership interests and assumption of ~$420,000 in accrued expenses (effective 2023-09-29). - Action: entry - Agreement: equity purchase - Counterparty: Porche Capital LTD - Value: purchase price of $1.00 for 55% membership interests and assumption of ~$420,000 in accrued expenses - Effective: 2023-09-29 source text: On September 29, 2023, Atlantic Coastal Acquisition Corp., a Delaware corporation and a special purpose acquisition company (the " Company "), entered into a Sponsor Membership Interest Purchase Agreement (the " Purchase and Sponsor Handover Agreement ") with Porche Capital LTD, a Republic of Ireland company (the " Buyer "), Anthony (Tony) Porcheron (" Principal "), Atlantic Coastal Acquisition Management LLC, a Delaware limited liability company and the sponsor of the Company (the " Sponsor "), and Shahraab Ahmad, solely in his capacity as managing member of the Sponsor (" Ahmad "), pursuant to which (i) the Sponsor agreed to sell, and the Buyer agreed to purchase, 55% of the membership interests of the Sponsor (the " Transferred Interests "), entitling the Buyer to the allocation of approximately 4,465,867 shares of Class A common stock, one share of Class B common stock and 3,336,667 private placement warrants to acquire 1,112,222 shares of Class A common stock for a total purchase evidence_url: https://www.sec.gov/Archives/edgar/data/1836274/000110465923106801/0001104659-23-106801-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.